ORDINANCE NO. 260545
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Sponsor: City Manager's Office
Acknowledging that the twenty-three-year statutory periods for the capture of tax increment allocation financing within Project Areas A, B, and H of the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan has expired; terminating the designation of Project Areas A, B, and H of the Plan as redevelopment projects therein; terminating the designation of the Plan as a Tax Increment Financing Plan; declaring as surplus those funds within the special allocation fund(s) established in connection with each such Project Area; dissolving the special allocation fund(s) established in connection with each such Project Area; and directing the City Clerk to send copies of this ordinance to Jackson County.
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WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act"), the City Council of Kansas City, Missouri (the "City Council"), by Ordinance No. 54556, passed on November 24, 1982, and thereafter amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, Ordinance No. 100089, as amended, passed on January 28, 2010, Ordinance No. 130986, passed on December 19, 2013, Committee Substitute for Ordinance No. 140823, as amended on June 18, 2015, and Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on November 27, 1995, the City Council passed Committee Substitute for Ordinance No. 951469, , which accepted the recommendations of the Commission and approved the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan (the "Redevelopment Plan") and designated the Redevelopment Area described therein to be a Blighted Area (the "Redevelopment Area"); and
WHEREAS, ...
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